The scope of freedom of contract in light of the development of contract law

Abstract

Modern economic, social, and technological developments have demonstrated the inadequacy of classical legal theory, based on the principles of freedom of contract and the supremacy of the will, in achieving contractual balance and justice. The adoption of a market economy in most countries has led to the emergence of a range of contracts with technical, financial, and legal complexity. Consequently, the simplistic understanding of the pre-contractual and contractual phases is no longer suitable for these new realities. This has prompted most countries to limit the dominance of the principle of freedom of contract in the pre-contractual and contractual phases by imposing a set of restrictions and obligations that mitigate its negative aspects. However, despite these limitations, the principle remains fundamental in contract law, and these restrictions and obligations are merely exceptions to it.